US homebuyers and refinancers took advantage of lower rates ahead of Fed's policy decision. Mortgage applications rose 11%, signaling housing market revival.
Utility stocks hit new highs amid trade policy uncertainty, with Utilities Select Sector SPDR Fund up 6.3% YTD. Constellation Energy Corp. jumps 11.87%.
Despite the best efforts of Elon Musk and the DOGE team, the US fiscal deficit for 2025 is $1.3 trillion so far, the second highest six-month level on record.
Wall Street pared early morning gains by midday Monday, as investor caution returned despite a temporary easing in U.S.-China trade tensions. While the initial market reaction was positive, especially in tech, enthusiasm faded as the trading session progressed.
